Argo, AL Cost of Living

Argo cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

Here we can see a simple outline of the cost of living in Argo, AL. As you can see, with the average cost of living in Argo, AL being 93, that puts it 4% higher than the average of Alabama and 7% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Argo, AL, the price of goods and services are 1% higher than the average of Alabama as well as 1% lower than the nation's average.

Did you know?

The cost of living in Argo is 4% higher than the Alabama average.

The cost of living in Argo is 7% lower than the national average.

The cost of housing in Argo is 15% lower than the national average.

Alabama general sales tax is 21% lower than the national average.

Alabama state income tax is 10% lower than the national average.

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Compare Argo, AL Cost of living To Other Cities

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Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

The salary calculator is meant to help you compare your salary in Argo, AL to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Argo, AL, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Argo, AL salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$55,326

$4,611

$1,291

$1,660

Renters

$31,774

$2,648

$741

$953

The affordability of the housing market in Argo, AL as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Argo, AL homeowners, the median income is $55,326. This indicates that a monthly maximum of $1,291 should be spent by homeowners on all housing related costs. Renters have a median income of $31,774. This indicates that renters should have a maximum of $741 used for their rent related monthly costs.

Alabama Sales Tax

State

General Sales Tax

With Max Surtax

Alabama

4%

10%

Alabama Income Tax

State

Income Tax (Low)

Income Tax (High)

Alabama

2%

5%

When assessing the complete cost of living in Argo, AL, the Alabama income tax and the Alabama sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Alabama maximum surtax is 10%, and the Alabama sales tax is 4%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 2% to 5% in Alabama.

Goods & Services

Item

Argo

National avg.

Difference

Haircut

$14.50

$14.59

0.6%

Beauty Salon

$29.50

$34.68

14.9%

Toothpaste

$2.49

$2.47

0.7%

Shampoo

$0.92

$1.02

10.0%

Movie

$10.06

$9.87

1.9%

Bowling

$4.65

$4.39

5.9%

Groceries

Item

Argo

National avg.

Difference

Ground Beef

$4.47

$4.48

0.2%

Fried Chicken

$1.34

$1.46

8.5%

Milk

$2.29

$2.36

2.8%

Potatoes

$4.38

$3.06

43.1%

Pizza

$10.00

$9.24

8.2%

Beer

$7.93

$8.63

8.1%

Health Care

Item

Argo

National avg.

Difference

Optometrist

$109.33

$99.78

9.6%

Doctor

$86.00

$105.03

18.1%

Dentist

$65.67

$88.70

26.0%

Ibuprofen

$7.69

$9.41

18.3%

Lipitor

$247.00

$298.50

17.3%

Housing

Item

Argo

National avg.

Difference

Home Price

$150,800.00

$175,700.00

14.2%

Avg. Mortgage Payment

$846.13

$1,081.03

21.7%

Apartment Rent

$774.00

$920.00

15.9%

Transportation

Item

Argo

National avg.

Difference

Gasoline

$1.90

$2.09

8.9%

Tire Balancing

$37.90

$45.29

16.3%

Utilities

Item

Argo

National avg.

Difference

All Electricity

$166.92

$170.80

2.3%

Phone

$24.33

$28.26

13.9%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.